Saturday, December 20, 2025
ADVT 
International

$4 Bn Pledged For Nepal's Rebuilding; India Tops With $1 Bn

Darpan News Desk IANS, 25 Jun, 2015 12:36 PM
     Nepal was on Thursday pledged $4 billion by the international community for its reconstruction following a devastating quake two months ago with India announcing the largest amount of $1 billion in aid at the International Donors Conference on Reconstruction of the Himalayan nation here.
     
    Nepal was ravaged by a 7.9-magnitude earthquake on April 25 that killed over 8,800 people and left over 100,000 injured, one million displaced and damaged some one million private and public houses, structures and buildings. 
     
    The total requirement for the country's reconstruction was placed at $6.7 billion by the government in its Post Disaster Needs Assessment report and the Nepal government announced $2 billion as a startup fund immediately after the April 25 earthquake. 
     
    Top officials from 56 countries and donor agencies took part in the daylong conference pledging support to Nepal's reconstruction effort.
     
    At the outset, Nepal Prime Minister Sushil Koirala sought liberal aid from the international community for rebuilding the country after it was hit by the April 25 quake.
     
    India responded to Nepal's appeal with a $1 billion pledge, which was the largest amount of aid promised by any country or donor agency. 
     
    Out of the pledged amount, one-fourth was in the shape of grant, Indian External Affairs Minister Sushma Swaraj announced.
     
    With the announcement of $1 billion loan and grant for Nepal's reconstruction, India has pledged $2 billion to Nepal in the last one year -- the single biggest aid promised for the economic development of Nepal.
     
    The amount pledged by India on Thursday will be used in the reconstruction of physical infrastructure as well as some key heritage sites which were severely damaged in the April 25 temblor and the intermittent aftershocks that followed. India's contribution is almost one seventh of the total requirement of $6.7 billion.
     
    Chinese Foreign Minister Wang Yi pledged to extend $480 million in the form of grant and loan. 
     
    China also offered a concessional loan from the Silk Road Fund for Nepal's reconstruction effort. China would also offer training opportunities for 1,500 Nepalis over the next year.
     
    Japan announced $260 million at the conference, and assured to organise the second donor conference to support Nepal's rebuilding effort. 
     
    "Japan will support in repairing cultural heritages," said Japanese State Foreign Minister Minoru Kiuchi.
     
    US Ambassador to Nepal Peter Bodde announced aid worth $130 million.
     
    Norway announced $30 Million, Britain pledged $110 million, Canada promised $60 million, Switzerland $25 million, and South Korea $10 million. 
     
    Pakistan has pledged $1 million and Austria announced $1.2 million in financial assistance. 
     
    Canada pledged $30 million, Turkey $2 million, Sri Lanka $2.5 million, Australia $6 million and Germany 30 million Euros ($33.58 million).
     
    The Asian Development Bank pledged support of $600 million. EU pledged an additional support of 100 million euro ($111.94 million) as grant assistance.
     
    Earlier on Tuesday, the World Bank had said that it would provide up to $500 million to finance the reconstruction of Nepal.
     
    Meanwhile, Brazil, Kuwait and Saudi Arabia have assured to support Nepal's recovery bid but have not announced their contributions towards the effort.
     
    The high-profile international donors conference drew over 300 delegates from 60 nations, development partners and donor community, including Indian Minister for External Affairs Sushma Swaraj and Chinese Foreign Minister Wang Yi.

    MORE International ARTICLES

    Indian-American Kamala Harris To Run For US Senate

    Indian-American Kamala Harris To Run For US Senate
    California's Indian-American Attorney General Kamala Harris, a "good friend" of President Barack Obama, has thrown her hat into the ring for the 2016 race to replace fellow Democrat veteran Barbara Boxer in the US Senate.

    Indian-American Kamala Harris To Run For US Senate

    Beautiful Customers Eat For Free: Zhengzhou Restaurant Determines Bill According To People's Looks

    Beautiful Customers Eat For Free: Zhengzhou Restaurant Determines Bill According To People's Looks
    A restaurant in Zhengzhou, capital of China's Henan province, is offering a special deal in which women who achieve the highest scores in terms of beauty get a free meal.

    Beautiful Customers Eat For Free: Zhengzhou Restaurant Determines Bill According To People's Looks

    UCLA Receives $2.5 Million Donation From Indian-American Alumnus Mukund Padmanabhan

    UCLA Receives $2.5 Million Donation From Indian-American Alumnus Mukund Padmanabhan
    An Indian-American has gifted $2.5 million to the University of California, Los Angeles (UCLA), for a new state-of-the-art engineering lab dedicated to integrated microsystems, the university said.

    UCLA Receives $2.5 Million Donation From Indian-American Alumnus Mukund Padmanabhan

    Dr. Sanjay Gupta's CNN Documentary Wins Award

    Dr. Sanjay Gupta's CNN Documentary Wins Award
    The CNN documentary, "WEED: Dr. Sanjay Gupta Reports", presented by its chief medical correspondent Sanjay Gupta has received the duPont-Columbia University Award for 2015, according to a university release.

    Dr. Sanjay Gupta's CNN Documentary Wins Award

    Obama Names Two Indian-Americans To Key Posts

    Obama Names Two Indian-Americans To Key Posts
    President Barack Obama has nominated two Indian-Americans to key posts of chairman of the National Indian Gaming Commission (NIGC) and member of the Board of Directors of the Overseas Private Investment Corporation.

    Obama Names Two Indian-Americans To Key Posts

    US Centcom Twitter, Youtube accounts hacked by IS

    US Centcom Twitter, Youtube accounts hacked by IS
    The Twitter and Youtube accounts of the US Central Command was hacked Monday by a group claiming to back the Islamic State (IS/ISIS) jihadi organisation, media reported....

    US Centcom Twitter, Youtube accounts hacked by IS